Civil Fraud Quarterly Round-Up: Q1 2021
When both client and solicitor have equal skin in the game it can create a harmony that other funding methods cannot reproduce.
We understand that litigation can be expensive and clients are sometimes anxious by how much it may cost to resolve their dispute. This is why we offer our clients a number of different funding options to suit their needs.
A Damages-based Agreement (DBA), as stated in the Explanatory Memorandum to the Damages- Based Agreements Regulations 2013, is a “private funding agreement between a representative and a client whereby the representative’s agreed fee (‘the payment’) is contingent upon the success of the case, and is determined as a percentage of the compensation received by the client.”
We are now a year on from the abolishment of the recovery of success fees in Defamation and Privacy proceedings, which brought these distinct areas of law into line with the judgment of the European Court of Human Rights in MGN v UK.
The Court of Appeal upheld a decision that the so-called ‘Arkin Cap’ is not a binding rule but ultimately at the Court’s discretion, in the recent case of ChapelGate Credit Opportunity Master Fund Ltd v Money & Ors.
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